Is AK Steel a Steal?

After losing almost 90% of its value in the past four years, the long-suffering company appears to be turning things around.

Shares of AK Steel are putting in a strong showing today, despite a downbeat forecast.

After the end of Thursday's trading, AK Steel (ticker: AKS) said it now expects to ship about 1.3 million tons in its fiscal first quarter, down 7% from the previous quarter, translating to a loss of 11 cents to 15 cents a share. That number is below the three cent per-share profit analysts were anticipating. However, the company said that it...